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Dow Inc (DOW)
NYSE:DOW
Earnings Data
Report Date
Apr 23, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.34Last Year’s EPS
0.02Same Quarter Last Year
Based on 14 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a constructive strategic and financial response to a challenging macro and industry environment. Highlights include solid liquidity, meaningful realized cost savings, a large new Transform to Outperform program targeting at least $2 billion of near-term EBITDA uplift, operational milestones (Poly 7 startup, ethylene production record), and modestly improving near-term EBITDA guidance (~$750 million for Q1). Key negatives include continued top-line and margin pressure in several segments (notably II&I), a 50% dividend cut, planned workforce reductions (4,500 roles) with material one-time severance costs, and a two-year delay to the Path to Zero project that lowers near-term returns. Overall, management emphasizes preserving financial flexibility, executing cost and cash actions, and pursuing structural transformation to position Dow for a recovery.Company Guidance
Fourth Quarter and Near-Term EBITDA
Fourth-quarter operating EBITDA of $741 million; first-quarter 2026 EBITDA guidance ~ $750 million, representing a modest sequential improvement driven by expected margin expansion and seasonal uplift.
Substantial Cost Savings Delivered
Identified more than $6.5 billion in near-term cash support items and delivered well over half in 2025; accelerated delivery of $1.0 billion cost-out program (realized > $400 million vs original $300 million target) and expect to deliver the remaining > $500 million by end of 2026.
Transform to Outperform Program
New transformation expected to deliver at least $2.0 billion in near-term EBITDA improvement (≈66% from productivity, ≈33% from growth); company expects ~ $500 million of value in 2026 from this initiative while incurring estimated one-time costs of $1.1–$1.5 billion (including $600–$800 million severance).
Strong Liquidity and Balance Sheet Actions
Cash and cash equivalents > $3.8 billion at end of 2025 and approximately $14 billion of available liquidity (including renewed revolver to 2030); completed ~$3.0 billion cash proceeds from strategic partnership with Macquarie and $2.4 billion in bond issuances; reduced CapEx plans by $1.0 billion.
Packaging & Specialty Plastics Operational Strength
Q4 net sales $4.7 billion; polyethylene sales volume increased year-over-year and sequentially; operating EBIT $215 million and sequentially improved by $16 million due to cost savings, higher licensing and energy sales; annual ethylene production record set for third consecutive year and startup of Poly 7 polyethylene train completed.
Performance Materials & Coatings Profitability Upside
Q4 net sales $1.9 billion (down 6% YoY) but operating EBIT increased by $34 million YoY driven by strong demand in electronics and mobility and cost reduction; silicones downstream volumes increased for the second consecutive year.
Industry Rationalization and Strategic Asset Actions
Completed shutdowns of higher-cost upstream assets (including shuttering a Freeport propylene oxide unit that rationalized ~20% of North American PO capacity); announced European shutdowns expected to deliver ~$200 million annual EBITDA uplift by 2029 with benefits starting in 2026.
Path to Zero Strategic Rework
Path to Zero timeline delayed two years to late 2029 to align with recovery; ~30% of project CapEx complete; expected project returns now ~8–10% with potential upside of 100–200 bps from low-carbon premiums; CapEx spending planned at or below D&A until mid-cycle earnings.
DOW Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
DOW Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Jan 29, 2026 | $27.78 | $27.16 | -2.23% |
Oct 23, 2025 | $21.38 | $24.15 | +12.96% |
Jul 24, 2025 | $29.50 | $24.35 | -17.46% |
Apr 24, 2025 | $27.48 | $28.20 | +2.62% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Dow Inc (DOW) report earnings?
Dow Inc (DOW) is schdueled to report earning on Apr 23, 2026, Before Open (Confirmed).
What is Dow Inc (DOW) earnings time?
Dow Inc (DOW) earnings time is at Apr 23, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is DOW EPS forecast?
DOW EPS forecast for the fiscal quarter 2026 (Q1) is -0.34.
